DENVER
06/30/2010 05:12 am ET | Updated May 25, 2011

Boot Jack Ranch In Colorado Sells For $46.5 Million, Becomes Largest Residential Transaction Of 2010

The shoddy state of today's real estate market isn't keeping those with means from making some eye-popping deals. This week, the Boot Jack Ranch in southwest Colorado sold for $46.5 million, claiming the mantle of most expensive residential transaction in 2010 in the U.S.

The estate, which can comfortably house 50 guests, sits on 3,000 acres of pristine wilderness in Southwest Colorado's San Juan Mountain Range. The property contains 6 lakes, an Olympic-sized pool, grazing pastures for livestock and 7 miles of world-class fly fishing on West Fork of the San Juan River.

The 14,000 square-foot home features a library, fitness room and a 1,500 bottle wine cellar. The property also comes with numerous guest houses and cabins.

The Wall Street Journal reports that the buyer was Texas billionaire Kelcy Warren, and notes that, while the deal may have been the biggest of the year, Warren actually got a bargain. The Boot Jack Ranch was originally listed for $88 million two years ago.

Check out some photos of the sprawling estate:

Boot Jack Ranch -- Nation's Most Expensive Real Estate Deal In Last Year